Bill № 5600 as an opportunity to involve additional resources in local budgets (+ infographics)

It is important for local self-government bodies to have a wide range of sources and tools of filling up local budgets. It is a guarantee of financial capability and greater opportunities for territory development.

Amendments to the Taxation Code (bill № 5600), adopted by the Parliament on November, 30, makes it possible to involve additional resources to local budgets. It was emphasized by Deputy Minister of Development of Communities and Territories of Ukraine Vyacheslav Nehoda.

The document has improved some provisions of the Taxation Code and laws on general issues of tax administration.

«On demand, local self-government bodies will be able to get reports on all tax payers on their territory, but not just legal entities as it used to be the case. It is also related to data on physical entities in arrears. Having such data at their disposal, municipalities will be able to plan their funds in a better way and administer local taxes and fees efficiently. It is vital for municipalities», - said Deputy Minister.

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